Question: The analysts in PlastiPharms operations division faced a problem forecasting demand for a customers new medical device bag for a new vaccine. Data was simply

The analysts in PlastiPharms operations division faced a problem forecasting demand for a customers new medical device bag for a new vaccine. Data was simply not available for forecasting. Therefore, the analysts talked with several industry experts to determine what the demand would be given an anticipated increased demand for this new vaccine. Which statement best explains why hiring an expert to provide expert advice is a valid component for the analysts forecasting?

  • Hiring an expert allows the company to pay only for the services it needs, when it needs them. If expectations are not met, the company is not committed to employment.
  • Relying on expert opinions allows the analysts to tap into independent advice that is not tainted by company loyalties or expectations.
  • Utilizing experts who know how the industry works and are aware of newer influences impacting that market is useful when data is scarce.

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